Cairo – Mubasher: The Egyptian Exchange (EGX) ended Monday in the red, following a collective decline of its indices amid strong local and foreign selling.
The benchmark EGX30 dropped 1.83% or 134 points and closed at 7,203.64 points, its lowest level since mid-March. Meanwhile, the EGX70 and EGX100 indices retreated 1.36% and 1.35% to 352.84 points and 750.66 points, respectively. The EGX50 lost 2.3% to 1,295.82 points.
Ezz Steel, Qalaa Holding, El Sewedy Electric, Talaat Mostafa Group (TMG), Palm Hills, SODIC and Pioneers, dropped between 0.99% and 3.3%.
On the other hand, Commercial International Bank – Egypt (CIB), Global Telecom, Ghabbour Auto, and Oriental Weavers, gained between 0.4% and 2.3%.
Turnover reached EGP 421.4 million as 150 million shares were traded. A total of 127 stocks ended down, while 14 gained and 31 remained unchanged.
Market capitalisation lost EGP 7.6 billion ($856.4 million) to EGP 389.58 billion, from EGP 397.2 billion on Sunday.
Egyptian and foreign investor selling netting EGP 23.1 million and EGP 1.8 million, respectively, whereas Arab investors bought stocks, netting EGP 24.9 million.
Golden Tex, Alexandria National Company for Finance Investment, Golden Coast El Sokhna, Misr Hotels, and El Wadi for Touristic Investment were the top fallers, sliding between 9.5% and 10%.
